Beijing to further ease market access to foreign capital

Updated 2018-04-17 15:30:58

Beijing will further ease market access for foreign capital in six major areas, including internet services, information services and healthcare, the Beijing Daily reported on Tuesday, citing a recently released guideline from the Beijing municipal government.

The guideline vowed to further open up the services sector by allowing foreign investment into setting up sales agencies in the air transport industry and further lowering entry requirements for investment firms and talents in the intermediary service.

The municipality's foreign investment has maintained growth for 16 consecutive years since 2002, with its accumulated actual use of foreign capital reaching around 0 billion.

Beijing will further relax scientific and technical services, internet and information services, cultural and educational services, financial services, business and tourism services, and healthcare, the guideline stated.

The municipality will also focus on the promotion of foreign investment in productive services and life services. For instance, foreign-invested enterprises will be encouraged to set up for-profit nursing homes for seniors, service agencies offering both medical care and nursing services, and professional nursing service agencies to diversify care for the elderly.

Foreign talents working in Beijing will also enjoy all-round convenience such as housing benefits and the municipality will increase support for foreign talents to lead or participate in major national and municipal science and technology projects.

In 2017, Beijing saw its foreign capital utilization further increase, with 1,309 new foreign-invested enterprises becoming established, up 22 percent year-on-year. The municipality's actual use of foreign investment reached .33 billion throughout the year, up 86.7 percent year-on-year.